GE to sell Turkey's Garanti Bank and Canadian Wind Farm Study

GE said to plan sale of $3.3B stake in Turkey's Garanti -Reuters
General Electric Co. will sell its $3.3 billion stake in Turkey's Garanti Bankasi AS , Reuters quotes sources in GE Money as saying Thursday. GE Money is part of the U.S.-based conglomerate's GE Capital division.

GE has a 20.85% stake in Garanti, the most actively traded stock on the Istanbul exchange and Turkey's largest listed lender by market value.
"GE Money is selling its stake in Garanti Bank in line with its global reduction strategy," a GE Money source said.
GE bought a 25.5% stake from Turkish investment firm Dogus Group for $1.6 billion in 2005, then sold part of its holding back to Dogus in 2007.

New GE Study Shows Canadian Wind Farms' Profits Would Exceed Government Investment
GE Energy Financial Services, a unit of General Electric (NYSE:GE), recently released a study showing the benefits of federal Canadian wind power incentives.

The study estimated that injecting an additional C$1.5 billion into Canada’s ecoENERGY for Renewable Power program could spawn 5.2 gigawatts of new wind projects. The program would not only recoup its costs, but it would generate additional revenue for of C$287 million for Canada’s governments.
In addition to providing emissions-free electricity, the federal financial incentive program for wind energy projects would more than pay for itself through tax revenues from the projects’ income, corporations’ profits, and individual workers’ wages. An indirect tax benefit is also created when workers and corporations spend money on products and services – creating more jobs. This expansion of wind power would create 49,000 jobs, directly or indirectly, during construction and more than 1,800 permanent jobs. READ PRESS RELEASE HERE [PDF]